A consortium of five banks are arranging the 8th issuance of the securitization bonds of Corporate Leasing Company (Corplease) worth 1.4 billion Egyptian pounds.
A source with Knowledge told Amwal Al Ghad that Egypt’s largest banks, National Bank of Egypt (NBE), Banque Misr, Arab African International Bank, Attijariwafa Bank and Commercial International Bank (CIB) act as arrangers, underwriters, custodians, and back-up servicers of Corporate Leasing Company’s (Corplease).
The source added that the issuance is divided into four tranches with 13-month, 3-year, 5-year, and 7-year tenures and the yield on the Coupon will be variable linked to the treasury bills.
There have been seven securitization transactions of CorpLease bonds with total amount of 5 billion pounds.
Founded in 2004, CORPLEASE is a local leasing and asset finance company. Its main shareholders are Egypt’s CIB, Germany’s DEG, and France’s UBAF.